## **STOTFOLD MILL PRESERVATION TRUST TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
Baldwin & Co. Chartered Certified Accountants 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
## **Stotfold Mill Preservation Trust Contents**
||**Page**|
|---|---|
|Trustees' Report|1—2|
|Independent Examiner's Report|3|
|Statement of Financial Activities (including Income and Expenditure Account)|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6—10|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities (including Income and Expenditure Account)|11—12|
## **Stotfold Mill Preservation Trust Company No. 04118651 Trustees' Report For The Year Ended 31 December 2025**
The trustees present their report and the financial statements for the year ended 31 December 2025.
## **Objectives and Activities**
## **Aims and Objectives**
The company is a charity and exists to preserve, develop and maintain Stotfold Mill, a building of special architectural and historical interest, as a working watermill and display of rural artefacts for the education and benefit of the public. It also exists to manage the conservation, protection and preservation of the adjacent Stotfold Nature Reserve and in doing so provide for the care and management of the reserve and the education of the public in the understanding, appreciation and enjoyment of the flora and fauna of the reserve.
During the year the Mill chimney was repaired at significant cost and sections of the boardwalk in the Nature Reserve were also repaired or replaced where necessary.
The two major events in May and Ocotber continue to be very popular and the principal source of income albeit profits being heavily reliant upon good weather.
## **Public Benefit**
The Mill and Nature Reserve are open to the public all year round weather permitting with organised tours and attractions. Entry is free, ensuring that no one is at a disadvantage if they are unable to pay. All members of the public (including people with disabilities) can access and view all displays and exhibits. As well as involving schools through the Education Team, the Trust also offers pre-booked and ad-hoc guided tours of the Mill and the Reserve.
The Trust is dependent upon volunteers and through the Vonunteer Support Team provides a means for local people to become involved in their community.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## **Reference and Administrative Details**
## **Trustees**
Mr M Wake Mr K Balderstone Mr J Hunt - Company Secretary Mr R Coulthard Mr J Saunders - Chairman Mr D Burt
## **Charity Number**
1086392
## **Company Number**
04118651
## **Independent Examiner**
J M Baldwin FCCA CTA Baldwin & Co. Chartered Certified Accountants 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
Page 1
## **Stotfold Mill Preservation Trust Trustees' Report (continued) For The Year Ended 31 December 2025**
## **Small Company Rules**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr J Hunt
Trustee 03/04/2026
Page 2
## **Stotfold Mill Preservation Trust Independent Examiner's Report to the Trustees of Stotfold Mill Preservation Trust For The Year Ended 31 December 2025**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
## **Responsibilities and Basis of Report**
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J M Baldwin FCCA CTA 03/04/2026 22 Bernard Crescent Hunstanton Norfolk PE36 6ER
Page 3
## **Stotfold Mill Preservation Trust Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 December 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Other trading activities
**4**
Investments
**5**
**EXPENDITURE ON:**
Raising funds
**7**
Charitable activities:
**7**
To preserve, develop and maintain Stotfold Mill
**NET (EXPENDITURE)/INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**15**|**2025**
**Unrestricted**
**funds**
**£**
1,024
158,311
8,336|**2024**
**Unrestricted**
**funds**
**£**
741
173,315
9,177|
|---|---|---|
||167,671|183,233|
||(111,610)
(70,425)|(110,468)
(16,994)|
||(182,035)|(127,462)|
||(14,364)|55,771|
||(14,364)
3,315,989|55,771
3,260,218|
||3,301,625|3,315,989|
The notes on pages 6 to 10 form part of these financial statements.
Page 4
**Stotfold Mill Preservation Trust Balance Sheet As At 31 December 2025**
|**Notes**
**FIXED ASSETS**
Tangible Assets
**11**
**CURRENT ASSETS**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**14**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Unrestricted Funds
**TOTAL FUNDS**
**15**|**Unrestricted**
**funds**
**£**
2,809,434|**Restricted**
**funds**
**£**
-|**2025**
**Total**
**funds**
**£**
2,809,434|**2024**
**Total**
**funds**
**£**
2,811,192|
|---|---|---|---|---|
||2,809,434
1,250
4,014
491,415|-
-
-
-|2,809,434
1,250
4,014
491,415|2,811,192
1,450
2,173
506,354|
||496,679
(4,488)|-
-|496,679
(4,488)|509,977
(5,180)|
||492,191|-|492,191|504,797|
||3,301,625|-|3,301,625|3,315,989|
||3,301,625|-|3,301,625|3,315,989|
||||3,301,625|3,315,989|
||||3,301,625|3,315,989|
For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr J Hunt Trustee 03/04/2026
Mr J Saunders Trustee
The notes on pages 6 to 10 form part of these financial statements.
Page 5
## **Stotfold Mill Preservation Trust Notes to the Financial Statements For The Year Ended 31 December 2025**
## 1. **General Information**
Stotfold Mill Preservation Trust is a company limited by guarantee, incorporated in England and Wales, registered number 04118651 and registered charity number 1086392. The registered office is Stotfold Mill, Mill Lane, Stotfold, Hitchin, Herts SG5 4NU.
## 2. **Accounting Policies**
## 2.1. **Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
## 2.2. **Incoming Resources**
Income is recognised when receivable. Income received in advance or subject to conditions is deferred until the conditions are met.
## 2.3. **Resources Expended**
Resources expended are recognised in the period in which they are incurred. Expenditure includes any costs that support the charity's charitable activities, fundraising or governance, whether paid or payable.
## 2.4. **Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0 Office & Security equipment 20 Nature Reserve and Equipment 25
No depreciation is provided for on freehold land and buildings.
## 2.5. **Stocks and Work in Progress**
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the statement of financial activities.
## 2.6. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 2.7. **Taxation**
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
Page 6
## **Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
3. **Income from Donations and Legacies**
|3.
**Income from Donations and Legacies**||||
|---|---|---|---|
|Donations and gifts
4.
**Income from Other Trading Activities**
Fundraising events
Tea Room sales
Income from merchandising
5.
**Investment Income**
Bank interest receivable
6.
**Net Income/(Expenditure)**
The net (expenditure)/income is stated after charging/(crediting):
Depreciation of tangible fixed assets - owned
7.
**Analysis of Expenditure**
Raising funds
To preserve, develop and maintain Stotfold Mill|**Activities**
**undertaken**
**directly**
**£**
86,213
-|**2025**
**Unrestricted**
**funds**
**£**
1,024|**2024**
**Unrestricted**
**funds**
**£**
741|
|||**2025**
**Unrestricted**
**funds**
**£**
143,273
9,663
5,375|**2024**
**Unrestricted**
**funds**
**£**
158,819
8,996
5,500|
|||158,311|173,315|
|||**2025**
**Unrestricted**
**funds**
**£**
8,336|**2024**
**Unrestricted**
**funds**
**£**
9,177|
|||**2025**
**£**
4,483|**2024**
**£**
5,131|
|||**Support**
**costs**
(see note 8)
**£**
25,397
70,425|**2025**
**Total**
**£**
111,610
70,425|
||86,213|95,822|182,035|
Page 7
## **Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
|Raising funds
To preserve, develop and maintain Stotfold Mill
.
**Support Costs**
Premises expenses
General administration
Depreciation
Interest payable
Premises expenses
General administration
Depreciation
Interest payable
.
**Independent Examiner's Remuneration**
Independent examination of the financial statements|**Activities**
**undertaken**
**directly**
**£**
84,712
-|**Support**
**costs**
(see note 8)
**£**
25,756
16,994|**2024**
**Total**
**£**
110,468
16,994|
|---|---|---|---|
||84,712|42,750|127,462|
||**Raising**
**funds**
**£**
5,079
13,539
4,483
2,296|**To preserve,**
**develop and**
**maintain**
**Stotfold Mill**
**£**
51,901
18,524
-
-|**2025**
**Total**
**£**
56,980
32,063
4,483
2,296|
||25,397|70,425|95,822|
||**Raising**
**funds**
**£**
5,720
12,436
5,131
2,469|**To preserve,**
**develop and**
**maintain**
**Stotfold Mill**
**£**
10,787
6,207
-
-|**2024**
**Total**
**£**
16,507
18,643
5,131
2,469|
||25,756|16,994|42,750|
|||**2025**
**£**
3,360|**2024**
**£**
3,300|
## 8. **Support Costs**
9. **Independent Examiner's Remuneration**
10. **Average Number of Employees**
Average number of employees during the year was: NIL (2024: NIL)
Page 8
## **Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
## 11. **Tangible Assets**
|**Cost or Valuation**
As at 1 January 2025
Additions
As at 31 December 2025
**Depreciation**
As at 1 January 2025
Provided during the period
As at 31 December 2025
**Net Book Value**
As at 31 December 2025
As at 1 January 2025|**Land &**
**Property**
**Freehold**
**£**
2,794,000
-|**Office &**
**Security**
**equipment**
**£**
76,468
2,725|**Nature**
**Reserve and**
**Equipment**
**£**
37,699
-|**Total**
**£**
2,908,167
2,725|
|---|---|---|---|---|
||2,794,000|79,193|37,699|2,910,892|
||-
-|69,272
1,984|27,703
2,499|96,975
4,483|
||-|71,256|30,202|101,458|
||2,794,000|7,937|7,497|2,809,434|
||2,794,000|7,196|9,996|2,811,192|
|The freehold land and buildings (the Mill) was revalued professionally in June 2023 at £2,794,000 resulting in
Reserve of £2,793,999.
12.
**Stocks**
**2025**
**£**
Stock
1,250
13.
**Debtors**
**2025**
**£**
**Due within one year**
Trade debtors
64
Other debtors
3,950
4,014
14.
**Creditors: Amounts Falling Due Within One Year**
**2025**
**£**
Accruals and deferred income
4,488|a Revaluation
**2024**
**£**
1,450|
|---|---|
||**2024**
**£**
-
2,173|
||2,173|
||**2024**
**£**
5,180|
Page 9
## **Stotfold Mill Preservation Trust Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
## 15. **Movement in Funds**
|**Unrestricted funds**
General:
General unrestricted fund
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Total funds**|**As at 1**
**January**
**2025**
**£**
3,315,989|**Income**
**£**
167,671|**Expenditure**
**£**
(182,035)|**As at 31**
**December**
**2025**
**£**
3,301,625|
|---|---|---|---|---|
||3,315,989|167,671|(182,035)|3,301,625|
||**As at 1**
**January**
**2024**
**£**
3,260,218|**Income**
**£**
183,233|**Expenditure**
**£**
(127,462)|**As at 31**
**December**
**2024**
**£**
3,315,989|
||3,260,218|183,233|(127,462)|3,315,989|
Unrestricted Reserves brought forward and carried forward includes £2,793,999 Revaluation Reserve and a Contingency Reserve of £50,000 that has been set aside in order to cover any unforeseen circumstances that may affect the running of the Steam Fair and Country Show or the Working Steam Weekend.
## 16. **Transactions with Trustees**
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
## 17. **Related Party Disclosures**
There have been no related party transactions in the reporting period that require disclosure.
## 18. **Company limited by guarantee**
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 10